A tenant passport isn’t quite a little red book that allows you to jet off to a far-flung destination. However, it could help secure your ticket to the home of your dreams.
Related: Phil Spencer says you should do THIS if you want to buy a house by 25
If you’re a renter, Phil Spencer’s new podcast series of MoveIQ should be mandatory listening. The property guru kicked off the first episode with his top tip on how to make sure a landlord picks you to be the next tenant.
Due to a combination of new legislation that has reduced the number of investors buy to let, and an increasing number of renters, renting has become a competitive business.
Tenant Passport
‘There are more tenants chasing fewer properties,’ explains Phil Spencer. ‘Up go the prices and up to the competitiveness in the market.’
So with more potential tenants chasing one property how do you make sure you stand out from the rest?
‘All landlords want a good tenant,’ says the Love it or List it, presenter. ‘There is quite a lot of chat out there about tenant passports and that is certainly a way that you can proactively demonstrate to a landlord that he or she should rent the property to you.’
Phil Spencer goes onto explain that a tenant passport will typically include a landlord reference from wherever you’ve lived before and an employment reference. There will also be some history of the rent and council tax you’ve paid in the past, along with ID and a visa if you need one to live in the country.
‘Having a tenant passport does give you a competitive advantage,’ adds the presenter.
Tenant passports are typically a digital rental profile that includes all the rental history that you can share immediately with a new landlord. There are plenty of options for creating one, some might charge you, however, Rental Step and Mudhut both offer free rental versions.
Related: THIS is how much Brits are spending on rent before buying their first home
If you’re looking to move, do you have your tenant passport in order?
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